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Executive summary

Here is our next funding round of the first special care “village” in Estonia, “Liikva Päikeseküla” (Liikva Sun Village). When completed the special village will provide living, working and therapy opportunities for people with autism spectrum disorder. The village will be established approximately 20 km from Tallinn in Harku municipality.

The project will include the construction of three family houses (30 rooms in total) and a therapy house (total 1600 m2 gross buildable area). According to the contract construction cost is EUR 2.76 million + VAT. Construction is in progress and value of works performed as at April 30, 2020 is EUR 693,989. Construction of internal roads and installation of underground heating circuit is completed, also water and sewage pipelines, prefabricated glued logs and roof structures of three houses have been installed. Currently, roofing and window installation, cabling work and underfloor heating piping are being installed. Construction deadline is in October 2020.

The project Sponsor SA Liikva Päikesekodu (Foundation Liikva Päikesekodu) has received a grant from the European Regional Development Fund (ERDF) in the amount of EUR 1,020,000. At the moment of this campaign, the ERDF has made two payments in amount of EUR 399,752.

Crowdestate investors are offered the opportunity to finance the construction in current fourth investment round in amount of EUR 150,000. Crowdestate investors are financing the construction in the amount of EUR 1.74 million. In the first three rounds the Sponsor has raised from Crowdestate investors EUR 579,000. First rank joint mortgage has been established upon a private house at Kajaka St. 12d in Tallinn with a market value of EUR 388,000, upon Suure-Pärna 7.07 ha property and the right of superficies upon Suure-Pärna 7.07 ha property in Harku municipality.

Investment period is 13 months (until June 30th, 2021), with an interest rate of 12.5% p.a. (13.5% after a 6-month extension) and internal rate of return (IRR) of a loan with monthly interest payments is 13.2%.

Crowdestate investors’ loan will be refinanced with a bank loan after Liikva Päikeseküla has shown operating cash flow. An additional source of refund is proceeds from the sale of shares to those who enter the service.

Liikva Päikeseküla will provide following special care services: daily and weekly care for 30 people, daily care for 10 people and therapy services. The opening of the village is planned for the beginning of 2021.